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Element List	Explanation
Introduction	Al-Muhafaza Education Company (the Company) announces that it has received a notification of award of a land lease contract in Al-Jazira neighborhood in Riyadh from Tatweer Buildings Company, for the purpose of investing in the construction, equipping and operation of an educational facility belonging to Al-Muhafaza Education Company.
Date of the Award	2026-02-09 Corresponding to 1447-08-21
Counterparty	Building Development Company
Contract Value	The annual rent is SAR 2,010,000, increasing by 10% every five years. The total rental value for the entire contract period is SAR 57,336,255 (excluding VAT).
Contract Details	A plot of land in Al-Jazirah district of Riyadh, measuring 19,104.26 square meters, is leased for the construction, equipping, and operation of an educational facility for a period of 25 years from the date of signing the contract. The contract includes a two-year grace period during which no rent is due.
Related Parties	nothing
Additional Information	The company will announce any material developments relating to the signing of the lease agreement and the project in due course.

Al Mohafaza Company for Education Announces Contract Award with Building Development Company